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The corporate regulator believes its guidance along with penalties will help accelerate fee-for-no service remediation payments as there is still $3.7 billion left unpaid.
In an unprecedented move, the corporate regulator has launched multiple civil penalty proceedings again the bank for matters including fee-for-no-service for deceased customers, insurance in super, and inadequate fee disclosure.
There will be ‘probably’ four sittings of the financial adviser exam in 2022, according to the corporate regulator.
The continued decrease in adviser numbers this week was driven by IOOF, AMP Group, BMF Asset Management, and Diverger.
Advisers who do not want to complete the Financial Adviser Standards and Ethics Authority requirements are finding a new home by taking on support roles at practices, according to an industry recruitment firm.
